HR Insights


Health Plan Deductibles Are Growing Seven Times as Fast as Wages

Posted by Jeremy Cavness on September 30, 2015

Health Plan Deductibles Are Growing Seven Times as Fast as Wages | Jeremy Cavness | HR Insights blog by CareATC, Inc.Workplace health insurance costs are on the rise, but some expenses are growing faster than others.

In general, national deductible costs are exploding, growing three times faster than premiums, and seven times faster than overall wages.

While workers and employers are finding ways to cope, this is proving to be a dire situation for chronically ill individuals, whose health care costs are swelling much faster than their salaries.

To keep workers from feeling the pinch, many employers are taking on higher deductible health plans, to keep monthly premium costs low. Some employers are even paying off a sizable portion of employees' yearly deductibles.

These are all simply survival strategies, as health care expenses are a growing problem nationwide. As the national conversation increases, this could (and should) become a major political issue, just as rising drug costs have been for the past couple of years.

Read full article at The Wahington Post.

Photo credit: Clever Cupcakes [CC BY 2.0]
Jeremy Cavness

About The Author

Jeremy Cavness

Jeremy is a former CareATC marketing team member.

Post Topics Health & Safety